JD.com (JD) Research & Development (2013 - 2026)
JD.com's (JD) quarterly Research & Development came in at -$2.1 billion in Q2 2026, down 50.76% year-over-year from -$4.2 billion in Q2 2025, and down 109.85% quarter-over-quarter from -$995.0 million in Q1 2026.
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JD.com (JD) Research & Development (2013 - 2026) Analysis & Trends
JD.com (JD) has reported Research & Development for 14 consecutive years, with -$2.1 billion the latest figure, recorded in Q2 2026.
- On a quarterly basis, Research & Development fell 50.76% year-over-year to -$2.1 billion in Q2 2026; TTM through Jun 2026 was -$6.2 billion, a 40.61% decrease from a year earlier, with the FY2025 full-year figure at -$3.2 billion, down 36.26% from the prior year.
- Research & Development was -$2.1 billion for Q2 2026 at JD.com, down from -$995.0 million in the prior quarter.
- Over five years, Research & Development peaked at -$559.0 million in Q1 2024 and troughed at -$2.2 billion in Q3 2025.
- A 5-year average of -$1.1 billion and a median of -$1.1 billion in 2024 frame the typical range for Research & Development.
- Across the five-year window, Research & Development rose 11.85% in 2023 and tumbled 58.57% in 2025, its largest moves.
- Over 5 years, Research & Development stood at -$633.0 million in 2022, then rose by 3.48% to -$611.0 million in 2023, then advanced by 1.64% to -$601.0 million in 2024, then slumped by 58.57% to -$953.0 million in 2025, then slumped by 119.1% to -$2.1 billion in 2026.
- The last three Research & Development figures came in at -$2.1 billion (Q2 2026), -$995.0 million (Q1 2026), and -$953.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,735.76 Bn | 2,612.77 Bn | 198.88 Bn | 62.73 Bn |
| 2 | JD.com | 32.66 Bn | 9.40 Bn | 16.50 Bn | -2.09 Bn |
| 3 | Coupang | 25.61 Bn | 19.50 Bn | 2.49 Bn | - |
| 4 | Wayfair | 13.93 Bn | 12.79 Bn | 1.05 Bn | - |
| 5 | GigaCloud Technology | 3.80 Bn | 3.42 Bn | 105.56 Mn | 36.18 Mn |
| 6 | Pattern | 3.04 Bn | 2.69 Bn | 384.36 Mn | 170.80 Mn |
| 7 | Yunji | 1.88 Bn | 1.86 Bn | - | - |
| 8 | Revolve | 1.47 Bn | 1.13 Bn | 196.67 Mn | - |
| 9 | ATRenew | 632.36 Mn | 371.23 Mn | -705.59 Mn | -11.38 Mn |
| 10 | Stitch Fix | 398.30 Mn | 211.49 Mn | 148.84 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -2.09 Bn |
| Mar 31, 2026 | -995.00 Mn |
| Dec 31, 2025 | -953.00 Mn |
| Sep 30, 2025 | -2.19 Bn |
| Jun 30, 2025 | -1.39 Bn |
| Mar 31, 2025 | -637.00 Mn |
| Dec 31, 2024 | -601.00 Mn |
| Sep 30, 2024 | -1.80 Bn |
| Jun 30, 2024 | -1.14 Bn |
| Mar 31, 2024 | -559.00 Mn |
| Dec 31, 2023 | -611.00 Mn |
| Sep 30, 2023 | -1.65 Bn |
| Jun 30, 2023 | -1.14 Bn |
| Mar 31, 2023 | -610.00 Mn |
| Dec 31, 2022 | -633.00 Mn |
| Sep 30, 2022 | -1.76 Bn |
| Jun 30, 2022 | -1.26 Bn |
| Mar 31, 2022 | -692.00 Mn |
| Dec 31, 2021 | -644.18 Mn |
| Sep 30, 2021 | -1.90 Bn |
API Access
JD.com Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=JD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "JD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=JD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();